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High car, or hire car the Spanish returned (5)

Ross

I believe the answer is:

cable

I'm a little stuck... Click here to teach me more about this clue!

'high car or hire' is the definition.
I can't tell whether this definition defines the answer.

'car the spanish returned' is the wordplay.
'car' becomes 'cab' (cab is a kind of car).
'the spanish' becomes 'el' ('the' in Spanish).
'returned' is a reversal indicator.
'el' in reverse letter order is 'le'.
'cab'+'le'='CABLE'

Can you help me to learn more?

(Other definitions for cable that I've seen before include "Telegram; wire rope" , "Strong thick rope made of twisted hemp or steel wire" , "Thick wire; telegram" , "Heavy chain or rope" , "Communications wire" .)

I've seen this clue in The Telegraph.
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